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Find the Equilibrium Point (X,p)of the Demand and Supply Equations p=1500.07xp = 150 - 0.07 x

Question 4

Multiple Choice

Find the equilibrium point (x,p) of the demand and supply equations.The equilibrium point is the price p and number of units x that satisfy both the demand and supply equations. ​
Demand
Supply p=1500.07xp = 150 - 0.07 x p=65+0.1xp = 65 + 0.1 x


A) ​(-500,-115)
B) ​​(500,115)
C) ​​(-500,115)
D) ​(115,-500)
E) ​​(115,500)

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